Automated tools will monitor employee use of E-mail, phones, and the Net, and a lot of companies are happy to use them
NYSE Regulation to Launch Ask Market Surveillance
Member firms and their compliance staffs will soon be able to search an online database for interpretive guidance on NYSE trading rules and submit questions to the NYSE's market surveillance staff.
Data Standards Take a Hit
With no fewer than five different data format "standards" currently in use industrywide the financial services industry is in desperate need of a universally agreed upon solution.
Hedgies Open Their Wallets
According to Greenwich Associates, the credibility afforded by SEC registration may become a necessary qualification for hedge funds .
Vetting Fraud Solutions
As competition in the fraud management space increases, Aite Group has issued recommendations for financial institutions.
Brokerages must upgrade their core back-office clearing and settlement systems to handle the growth in alternative investments.
Holistic Information Availability
The securities sector's recovery strategies have always been valuable, but now a more proactive approach is needed to ensure information availability.
Aggregation: Back to the Future
Aggregation was dead. Except for the recent acquisition of RealTick/Townsend Analytics by Lehman Brothers, the aggregation business has been in the doldrums for the past year and a half.
DTCC Hires Derivatives Expert
Derivatives processing authority Bill Stenning joined the Depository Trust & Clearing Corp. (DTCC) as VP of business development.
Trading Technologies Trades Up
Chicago-based Trading Technologies International (TT) has launched X_TRADER 7, the next generation of its X_TRADER trading platform.
Instinet (New York) unveiled Cobra, a stealth algorithm that, according to the company, removes portions of liquidity when available, leaving the stock's spread unchanged.
Partnership Offers Grid Solution
ClearCube Technology (Austin, Texas) and DataSynapse (New York) have partnered to offer a combination hardware and software platform for grid computing.
THE CHALLENGE: Business continuity means more than backing up data. To ensure that business disruptions don't shut down operations, firms must provide employees with remote access to critical systems, which can be more challenging than keeping the systems running in the first place.
Prime Time for Primes
As competition heats up, hedge fund servicing providers must choose a service model: full-service prime brokerage or specialized 'mini-prime.'
Jumping Into the (Pension) Pool
Northern Trust has found that creating a tax-transparent, cross-border pension vehicle poses more than just technological challenges.
Compliance for Less
Despite personnel and budget constraints, two small firms find proven solutions to fulfill their compliance needs.
Tullett Prebon and BGC are launching platforms to compete against ICAP's BrokerTec, the dominant player in repo trading.
Electronic Proxy Voting Platform Goes Live in Japan, EdgeTrade Chooses Wombat for Connectivity, Calamos Using BT for Voice Trading
RGIA to Use Contango Platform for Alternative Investments, Evercore Asset Management Sends Its Back Office to Mellon, MAXAM Selects Backstop for Research and Reporting, Pacific Select Group Chooses SunGuard's Protegent Surveillance for Broker Compliance